Uncategorized
Nov 29

CMS Issues Improper Payment Rates for Medicare, Medicaid and SCHIP

CMS reported earlier this month it protected roughly $400 million of taxpayer dollars as improper payments for Medicare Fee-for-Service (FFS) decreased from 3.9 percent in FY 2007 to 3.6 percent, or $10.4 billion, in FY 2008. The Medicare, Medicaid and SCHIP improper payment rates are issued annually as part of the HHS Agency Financial Report.

In addition to improved Medicare FFS payments for FY 2008, CMS reports its first Medicare Advantage improper payment rate of 10.6 percent, or $6.8 billion, in payments made in CY 2006. Also being reported for the first time are the FY 2007 national composite error rates for Medicaid and for SCHIP. The Medicaid composite error rate is 10.5 percent, or $32.7 billion, of which the federal share is $18.6 billion. For SCHIP, the rate is 14.7 percent, or $1.2 billion, with a federal share of $0.8 billion.

To read the complete CMS press release issued November 7, 2008, click here:
http://www.cms.hhs.gov/apps/media/press_releases.asp

About Reed Tinsley, CPA

As a top advisor to physicians, I help increase practice profits by delivering hands-on, expert medical accounting/tax support, practice counsel, and revenue-building strategies. Read more →